Why is it mandatory to have Vehicle insurance?

Car insurance is an integral part of your motor. Although this is an annual recurring expense, you can make huge savings on annual premiums. Therefore, it would be a good idea to be aware of the nuitt-sandy of these motor policies.

There are two types of sources: minority political vehicles and the complete vehicle. A third party returns a protection for damages caused to third parties in the event of an accident, such as injury or death or property damage - due to an accident caused by the vehicle under insurance to third parties. It also includes personal accident coverage for the owner-driver. However, it does not cover engine damage. According to the law, it is mandatory to own at least one third of the coverage for the driver of your vehicle on the road.

Complete is a protective cover for your vehicle as well. You will be provided with two-thirds clean and damage blankets. Covering your own damage is not mandatory but will be very helpful as it takes care of your financial needs in case of emergency. Therefore, it is advisable to cover the damages the vehicle has as well. The risks covered are natural disasters such as earthquakes, floods, storms, etc. Disasters caused by man, such as accident, theft, fire, riots, malicious acts, etc.

Each vehicle is insured at a value based on the vehicle manufacturer's price minus the depreciation according to the age of the vehicle, known as the name of the declared value insured. Damage to third party property is covered up to a sum of Rs 7.5 lakh to Rs 1 lakh of cars and two-wheeled vehicles. And there is no limit on coverage for injuries or death to third parties.

The premium of your car insurance policy is determined by several factors such as the model, capacity, age, type of fuel, the city where you are staying, your age, your profession, safety aspects, application experience And then switch to the vehicle.

One of the most common ways to save the bonus is the no-claims bonus (BCN), where you can get a premium discount if you have not made a claim in previous years. These discounts can be increased with each successive year of zero claim and up to as high as 50% to 60%. It is advisable not to claim small teeth or small scratches and use your bonuses without complaint, instead of accumulating these bonuses and used for the highest discount bonuses. Another way to reduce the premium would be the installation of safety devices belonging to a motorist association, the choice of higher deductibles, parking in garages or security area, etc.

Many vans drivers and commercial vehicle owners often rely heavily on their vehicles as a source of income. For this reason, it is important that you take care of your vehicle well and make sure that you are adequately insured in case of problems.

One of the most important factors to ensure that your commercial vehicle is to make sure you have the right coverage for your vehicle and its intended use.

Most commercial policies do not automatically cover the products or tools in your vehicle. Insurance "goods in transit" can normally be purchased separately and added to your existing business insurance. Please note that the sum insured may be a limited amount for each vehicle and will be based on the value of the content. The insurance of goods in cover of transit:

Flight (in transit)

Loss (in transit)

Damage caused by accidents during transport

Damage caused during transport

You can always better opt for protective cover for the complement to ensure that the risks are not covered by a standard policy. Some insurance companies offer facilities without cash if the vehicle is repaired in their authorized garages. Otherwise, you can repair your favorite garage and then request reimbursement from the insurer.

There are some standard exclusions such as wear, mechanical or electrical failure. If the person driving the vehicle does not have a valid license or driving under the influence of alcohol or drugs, it may not be possible to ask for vehicle insurance. You can change your car insurance provider without losing the benefit of a right to claim the free premium that you can qualify for.